Forex Price Action

[galileo]

Johnathon,

I noticed you often watch crosses like EUR/NZD. Is there a reason? pair behavior?

Do you always try to go with the trend, or do you watch for reversals as well?

Thanks

[Forex School Online]

Hello Gal,

I watch a ton of different pairs. The ones I have shown here are just whichever ones I am watching at the time. Yes I always try to trade with the trend. Then within that trend I look for logical pullbacks

So the EURNZD I did end up shorting. I was up over 1.5/1 Risk Rewar as well and ended up getting stopeed at break even on the trade.

This was all from the same area I highlighted from the chart in my previous post in here. I will post a zoomed in chart of the EURNZD showing the trade of the small pin bar. This will not show the great area that the previous post will so to see the key area this was from please see the previous posts.

Here is a chart of my live sell below. I was up over 1.5 RR and locked in to Break Even to make sure no loss as I always do. I was looking for a little bigger kill on this particular trade here.

nzd.png

Safe trading,

Johnathon

[Forex School Online]

Gal,

also Pin bar (pin bar reversals) and Engulfing bars are both reversal signals. This is why it is so key where you play them from i,e swing highs and lows etc. I don't have time right now but super important.

But just keep in mind find the area first and then find the Price Action.

[Forex School Online]

Here is a nice Bearish Engulfing Bar from a nice level on the EURGBP 4hr chart.

eurgbp.jpg

Johnathon

[jayjonbeach]

Just judging the candle and resistance, that is a good looking setup indeed. Since there is such a nice upward trendline in place, if I were playing this I would play a break of that trendline.

Just my 2 cents

Thanks for sharing your ideas in the forum.

[Forex School Online]

Heya thanks Jay,

I don't pay too much attention to trend lines myself but I don't have a problem with other using them. This one gave me a chance to take profit of the table and move to break even with in half hour of being in the trade.

You will see on the chart below a really obvious support area that I have marked. It was here I first targeted and was also worried price may turn so locked in profit and moved to BE. I was surprised how quickly price exploded to this area!

See chart:

support.png

Questions welcome

Safe trading,

Johnathon

[jayjonbeach]

Hehe following some explosions similar myself today!

Yeah sure enough it went down, tagged the support, and put in a pretty big doji after, failing to close below the trendline as well.

Are you planning to play it long if it breaks through that resistance level and follow the trend up?

[Forex School Online]

Hey I don't doubt that for a second.... But when I say I don't us TL I mean I haven't seen the TL you are referring to at all.

Are you able to flick a chart up so I am better able to see what you are explaining please?

And no I won't be entering long when it breaks higher. I don't take straight breaks. If it breaks and then retraces to this level I will be very interested to see what happens if this makes sense?

Hey thank in advance for that chart.

Johnathon

[jayjonbeach]

Okay let's see if these attachment pictures will work (haven't tried here at BP before).

Note the charts I used were hourly and 5 hour so I don't think the trendline lines up as nice as on your 4hour one shown.

untitled1.jpg untitled3.jpg

Daily chart would suggest the resistance at 84 is quite strong, and a break would be significant for sure. Notice the very nice Head and Shoulders pattern as well.

untitled4.jpg

Cheers

Jason

[Forex School Online]

Hey great charts! They worked very well indeed!

I very much agree if a break higher happens a move could be quick to 85.... How you looking to play this. AS I am not I would love to know how somoene else looks at things?

Regards,

Johnathon